Update: Twaron Production Back up to Speed

Oct 25, 2010, 10:00 ET from Teijin Aramid

ARNHEM, The Netherlands, October 25, 2010 /PRNewswire/ -- Teijin Aramid's spin lines for the production of Twaron are fully operational again and the Emmen and Delfzijl production locations are back to full production capacity. The strong recovering market and the tightening stock are reasons for Teijin Aramid to start up the last spin line which still was shut down because of the crisis.

Many spin lines were suspended in 2009, but in June 2010, Teijin Aramid announced that the last spin line was starting up again. Demand for Twaron and Technora recovered faster than expected, particularly in the first half of 2010.

The last line also resumed operation for commercial production in mid-September. "This is an ultramodern spin line with an unusual background. We put the line into operation just before the crisis, but we had to suspend it four months later due to sharply declining demand. The restart of this line is good news for everyone at Teijin Aramid; it signifies an end to the economic crisis for the time being", according to Gert Frederiks, CEO of Teijin Aramid.

This spin line was part of one of Teijin's major investments. More than EUR 1 billion was invested in the Delfzijl and Emmen production locations during the past decade. These investments represent the company's commitment to the super-strong fiber and make Teijin one of the largest investors in the Dutch economy.

Future

Teijin Aramid has performed well during the past months and prognoses for the coming months are promising as well. The business situation is strongly improving, the supply situation is tight and consequently prices show an upward trend. Management has reasonably good faith in the market but remains cautious despite the favorable results. "I do not believe that a double dip is in the offing. Customers and other experts have also given us positive signals about growth. Growth may be slower in 2011 than in the first half of 2010, but it will continue", according to Gert Frederiks.

About Teijin Aramid

Teijin Aramid is a subsidiary of the Teijin Group with a passion for aramid with her products Twaron(R), Sulfron(R), Teijinconex(R) and Technora(R). These are renowned for their strength, sustainability, heat resistance and low weight and can be found worldwide in different applications and markets including automotive, ballistic protection, marine, civil engineering, protective clothing, optical fiber cables, and oil & gas. The four high-performance aramids are produced in the Netherlands and Japan. More information www.teijinaramid.com

Teijin Limited, the holding company for the Teijin Group, is listed on the Tokyo and Osaka stock exchanges. The group had consolidated sales of USD 8.5 billion (JPY 765.8 billion) in fiscal 2009 and employs 18,778 people worldwide, with 156 companies around the world. For more information go to http://www.teijin.co.jp/english.

SOURCE Teijin Aramid